Regulatory Alerts2012-04-25
Notice No. 19-2012 of April 25 Regulating Foreign Exchange Operations for Merchandise Trade
The Bank of Angola issued Notice No. 19-2012 to update regulations governing foreign exchange operations for the import, export, and re-export of merchandise in Angola. The notice establishes mandatory banking intermediation, defines specific payment modalities such as documentary credits and advance payments, and sets strict documentation and compliance timelines for all transactions. It further outlines licensing exemptions, capital coverage requirements, and prohibitions on settlements that bypass national foreign exchange reserves.
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